According to Gem and Jewellery Export Promotion Council (GJEPC), Indian exports of gems and jewellery rose to ₹25,226.11 crore in April 2021. The exports have shown a year-on-year surge of 16.63 per cent compared to the exports in April 2020, which stood at ₹273.41 crore despite the second wave of the pandemic ongoing in the country.
The exports of cut and polished diamonds that stood at ₹261.19 crore in April 2020, surged to ₹16,538.84 crore in April 2021. Gold and silver jewellery exports also rose to ₹5,060.23 crore and ₹2,240.13 crore respectively from just ₹1.55 crore and ₹5.05 crore the previous year, respectively.
GJEPC Chairman Colin Shah said in a statement, “The reason why India managed to export $3,369.65 million, despite the ongoing second wave of the pandemic, was unlike last time. This time, there was no national lockdown imposed and in almost all our manufacturing locations, activity for export has been facilitated by the government.” India’s key export markets have also opened for economic and social activities. This, coupled with the fact that the country’s SEZs (special economic zones) dedicated for gems and jewellery exports have been operational, and have been able to cater to the growing demand from countries like U.S., UAE, and China, has also been a contributing factor to the reported growth in exports.
Image for representational purposes only.